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Additional information
Additional Information
Market: TSX, AMEX
Sector: Gold Mining
Epic: NSU
News: Latest news
Web Site: Nevsun Resources
Other Articles: 17-02-201004-02-201008-12-2009 
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Thursday July 29, 09:30Specialist Energy Group Lays Out a Compelling Blueprint for Growth

After a difficult start to life as a stock market listed company, the company now stands at the threshold of a much brighter future. Legacy issues have been dealt with and the turnaround programme initiated by CEO Ewan Lloyd-Baker is gaining traction.

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Wednesday July 28, 11:30Silver Lake Resources boosts high grade gold resource by 70% to 2.5m ounces

Silver Lake Resources has added over 1 million ounces of gold to its resource inventory during the year after mining 66,700 ounces and expects further encouraging results at its  Mount Monger and Murchison projects.

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Thursday July 15, 02:10Henan Yuguang Lead & Gold investment in Kimberley Metals receives all clear from FIRB

Kimberley Metals (ASX: KBL) has reported that on 12 July the Australian Government Foreign Investment Review Board (FIRB) had no objections to Henan Yuguang Lead & Gold Co. Ltd's [...]

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Nevsun Resources

Nevsun Resources

Nevsun Resources is a gold and base metal explorer/developer with a focus on developing mining projects in Africa. Nevsun is currently focused on advancing its high grade gold, copper and zinc Bisha Project in Eritrea.

Tuesday, February 23, 2010

Nevsun Resources expects Bisha gold-copper-zinc project to be cash positive in Q1 2011

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Nevsun Resources (TSX&NYSE Amex: NSU) said it now expects its Bisha gold-copper-zinc project in Eritrea to be cash positive in Q1 2011 and said there was a considerable potential for resource expansion should metal prices stay above the initially assumed US$400/oz for gold, US$1.05/lb for copper and US$0.50/lb for zinc.

The cash flow model was increased through the elimination of financing costs and debt repayment as a result of financing the project entirely by equity rather than by debt.

The initial economic model assumed a 10 year mine life and was based on a shallow pit model with a depth of 200 metres. If metal price assumptions are increased, the strip ratio will go from the current 4:1 to 5:1 if the pit is redesigned to 400 metres, using prices of US$2.00/lb for copper and US$0.75/lb for zinc compared to the current prices of US$1,100/oz for gold and US$3.30/lb and US%1.00/lb for copper and zinc respectively.

The internal rate of return (IRR) for the project stands at 63% using the high metals case, 45% in the mid metals case and 20% in the low metals case.

In additional to resources open at depth, the company has identified two deposits within its licensed areas. The reserves are currently estimated at 20 million tonnes.

Nevsun has also increased the capital budget by 4% to US$260 million and reported that the Bisha mine was now 50% complete, targeting plant commissioning as early as November 2010.

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